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Show Notes
New parent? Expecting a baby? 👶 This episode of The Future of Finance with Marissa Wood from Union Financial Services dives into 5 essential financial tips every new parent needs to know.
From life insurance to budgeting, estate planning to starting an investment account for your child — this episode walks you through exactly how to financially prepare for your growing family.
Whether you're already a parent or planning for the future, this episode is packed with actionable advice to protect your loved ones and build lasting wealth.
🔑 In this episode, you’ll learn:
- Why life insurance is critical for new parents
- How to create a will or trust
- A simple budget framework every family can use
- How to build the right emergency fund
- Smart ways to invest for your child’s future
⏱️ Timestamps:
00:00 – Welcome to the Future of Finance
00:17 – Why financial planning is crucial for new parents
00:55 – Tip 1: Get Life Insurance (Term vs. Permanent Explained)
04:14 – Real-life example of why life insurance matters
08:14 – Tip 2: Create a Will or Trust (Estate Planning Basics)
09:46 – Why you want to avoid probate
09:54 – Tip 3: Build a Budget (60/20/20 Rule Explained)
12:21 – How to evaluate your actual monthly expenses
13:04 – Tip 4: Build an Emergency Fund (How Much You Really Need)
14:48 – Why emergency savings come before investing
15:13 – Tip 5: Invest for Your Child’s Future (3 Smart Options)
16:17 – Brokerage accounts vs. 529 vs. cash value life insurance
18:44 – Recap: Prioritize your financial health first
20:01 – How to connect with Marissa for personalized planning
📞 Ready to start planning?
Schedule a free consultation with Marissa Wood at 👉 union-financial.com
💡 Don’t forget to like, subscribe, and hit the bell 🔔 for more personal finance tips for families and new parents!